Regulation FD Disclosure - Form 8-K

This report is filed quarterly to disclose assets under management ("AUM") by asset manager, prior to the availability of Principal Financial Group, Inc.'s (the "Company") quarterly earnings release. The amounts presented herein will be consistent with the format of AUM by asset manager and presented again in such format within the Company's financial supplement for the quarter ended March 31, 2024, when that document is posted to the Company's investor relations web site on or about April 25, 2024.

As of March 31, 2024, the assets under management for Principal Financial Group were $708.5 billion, of which $513.5 billion is managed by Principal Global Investors and $178.7 billion is reported by Principal International.

Principal Global Investors delivers products and services through our network of focused investment teams. During times of market dislocations and a wider dispersion of returns, it is important to note our exposure to small and mid-cap products in U.S. equity AUM and high yield and preferred securities exposure in fixed income AUM. Principal International's reported AUM is translated to U.S. dollar equivalents using end of reporting period spot foreign exchange rates.

The Company uses Principal Asset Management AUM for marketing purposes, defined as assets under management for Principal Global Investors and Principal International excluding assets for entities where the Company is a minority owner and assets that are not allowed to be included due to regulatory requirements. As of March 31, 2024, Principal Asset Management AUM was $554.4 billion. This is not intended to be used for modeling purposes.